CYPHER LEARNING Raises $40 Million Growth Equity from Invictus Growth Partners to Drive Innovation in the Global Business and K-20 Education Markets

CYPHER LEARNING, a leading provider of learning management systems for businesses and educational institutions, said today that it had received $40 million in growth equity from Invictus Growth Partners ("Invictus"), marking the company's first outside funding. The funds will be used to increase sales, marketing, and development of its cutting-edge learning platform and increase profitability. John DeLoche, Co-Founder and Managing Partner of Invictus, will join the Board of Directors of CYPHER LEARNING.

CYPHER LEARNING is the only business that offers a learning management system (LMS) for all major e-learning sectors.

MATRIX LMS for Businesses, NEO LMS for Schools and Universities, and INDIE LMS for Entrepreneurs are the company's three award-winning products. The products are used by over 20,000 organizations worldwide and are accessible in over 40 languages. The worldwide LMS industry is projected to be worth more than $21 billion. Still, it remains highly fragmented and inhabited by outmoded, small-scale firms that have not kept up with the current requirements of businesses and educational institutions. This huge market has created tremendous growth possibilities for CYPHER LEARNING as its cutting-edge learning platform gains momentum due to its intuitive user experience, robust functionality, and unique approach to teaching and learning.

"CYPHER LEARNING's unique positioning in the industry, as well as the large addressable market in both the business and K-2O sectors, has resulted in phenomenal growth, which we expect to accelerate over the coming few years," said Graham Glass, CEO, and Founder of CYPHER LEARNING.

"The CYPHER LEARNING platform provides many advantages to businesses and educational institutions, including ease of use, consistency of learning, innovative tracking and reporting, greater engagement, and improved learning outcomes. Graham and his leadership team have developed a world-class learning platform with revolutionary automation, mobile, social, and gamification capabilities that are designed to scale and dominate the market across all industries. We are happy to collaborate with CYPHER LEARNING and look forward to helping them accomplish their goals." Invictus Growth Partners Co-Founder and Managing Partner John DeLoche said

About CYPHER LEARNING

CYPHER LEARNING is a San Francisco-based company specializing in delivering learning platforms to companies all around the globe. MATRIX LMS for Businesses, NEO LMS for Schools and Universities, and INDIE LMS for Entrepreneurs are the three products offered by CYPHER LEARNING. Over 20,000 companies use the products, which support 40+ languages, and have received numerous awards. CYPHER LEARNING is the only company currently providing platforms in all main e-learning sectors, including academic, corporate, and entrepreneurship.

About Invictus Growth Partners

Invictus Growth Partners is a growth equity and buyout company that invests in bootstrapped and capital-efficient cloud software, cybersecurity, and fintech companies looking for capital and strategic expertise to drive their growth. The firm and all of its employees are based in San Francisco, California.